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HA3042 Taxation Law Assignment
The Lotteries Commission conducts an instant lottery called ‘Set for Life’ under which a winner who scratches three ‘set for life’ panels wins $50,000 each year for 20 years. The first $50,000 is payable as soon as the winner is notified, and later amounts are payable on the first anniversary of the first payment. In the event of the death of the winner, the Commission may pay any outstanding amounts to the deceased.
Requirement:
Is the annual payment income? Give reasons for your decision
The issue is related to the classification of yearly payments as having the nature of income.
The ordinary income does not has any definition in the taxation acts. The meaning of the ordinary income is derived from the case law and is reliant on the principles that emerges from the decisions. The taxation legislation role is to take into the account the value of ordinary income in the taxable income given the amount meets the criteria ascertained by the principles of case laws (Roberts 2017). Read More...
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Ans: Here is the step by step description of the content of a law report:
Ans: There is no denying that regular practice makes you better at legal writing. Besides, you should practice these following measures to improve your legal writing skills:
Ans: Lawyers usually use any of the following writing formats for legal writing:
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Ans: The law assignments usually follow the regular structure of an academic paper, which includes:
However, if you are writing working on a legal report, you need to follow this structure below:
Ans: Some interesting criminal justice research topics are:
Ans: Commercial law, also known as mercantile law or trade law, is a branch of law that governs the way businesses trade with customers and each other. It creates a regulated system which is fair for both parties involved in a contract, ensuring the trade can be conducted in a reasonable way.
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